Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 2)
2.
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
Answer: Option
Explanation:
Let the sum be Rs. x. Then,
| C.I. = |  |
x |  |
1 + | 4 |  |
2 | - x |  |
= | |
676 | x | - x | |
= | 51 | x. |
| 100 | 625 | 625 |
| S.I. = | |
x x 4 x 2 | |
= | 2x | . |
| 100 | 25 |
 |
51x | - | 2x | = 1 |
| 625 | 25 |
x = 625.
Discussion:
149 comments Page 8 of 15.
Eshwar said:
10 years ago
CI = A-P.
A = P(1+r/100)n.
CI = P(1+r/100)n-P.
Where in above problem P = x.
A = P(1+r/100)n.
CI = P(1+r/100)n-P.
Where in above problem P = x.
$weth@ said:
10 years ago
Is that a formula you used over there?
[x(1+4/100)2]-x? where and all we can use this?
[x(1+4/100)2]-x? where and all we can use this?
Manaswini said:
10 years ago
I can't understand this please some one help me to understand this sum.
Salman said:
10 years ago
Actually the question is wrong:
It should be difference between compound and simple interest.
Since compound interest will always be larger than simple interest given the same rate and period.
It should be difference between compound and simple interest.
Since compound interest will always be larger than simple interest given the same rate and period.
Sagy said:
10 years ago
I did not understand this sum please help give me a simple way to solve this sum.
Santhosh P said:
10 years ago
Difference for 2 years = P*(R/100)^2.
=> P*(4/100)^2 = 1.
=> P = 625.
=> P*(4/100)^2 = 1.
=> P = 625.
Anu said:
10 years ago
Krishna please solve last equation also.
Priya said:
10 years ago
Should we take x as principle? Or we can take any other variable like P?
Princess said:
9 years ago
Can anyone tell me how can we find the sum and rate when compound interest for two successive years are are given?
Amit said:
9 years ago
Principal for two years = pr2/100*100.
Three years = pr2(300+r)/100*100*100.
Three years = pr2(300+r)/100*100*100.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers